Using value management (VM) best industry practices (BIPs) makes compliance and reporting to meet Federal-Aid requirements easier—it has been proven to get the highest return on investment for public agencies. Four agencies with mature VM programs average project savings of 6.4%, return on value engineering study investment of 147:1, and implementation rates of 68%. This course will focus on the factors and program characteristics that contribute to that level of success.

Principles covered in this course are derived from data revealed by a first of its kind audit of Seattle-based Sound Transit done in 2011–2012. The audit was conducted under U.S. Government Auditing Standards issued by the Comptroller General, by SAVE International® certified value specialist (CVS™) subject matter experts. The audit benchmarked Sound Transit’s VM program against North American transit and transportation agencies including the Toronto Transit Commission; Ontario Ministry of Transportation; TriMet, Portland, Oregon; Denver Regional Transit District; WSDOT; and AASHTO.

The results of the Sound Transit audit revealed BIPs that leverage VM programs to optimize agency cost management, operations, facility function, risk, and life-cycle cost (LCC). Across the board, high-performing VM programs have common characteristics that will be covered during the class.

This one-day course will briefly highlight

specific changes to value engineering requirements under the Moving Ahead for Progress in the 21st Century” Act (MAP-21), enacted 7/6/12;
compliance with revisions to the Code of Federal Regulations enacted 3/15/12; and
coming changes to OMB Circular A-131, which will strengthen the role of value engineering in federal government and federally funded projects.

The course then covers

a brief review the SAVE International® value methodology;
the nine value management best industry practices (VMBIPs) for high-performing VM programs that have proven to yield the highest return on their value engineering investment, performance-balanced project savings, and improved implementation rates; and
how to scope VE facilitator services and select facilitators to ensure accountability to the VE job plan—just because they’re CVSs doesn’t necessarily mean they do this.

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Detroit, MI View details    July 18, 2013 - July 18, 2013